FEAR & GREED | Business News Afternoon Report | Musk quits
May 29, 2025
Markets are seeing some ups and downs, with a flat ASX today. The Prime Minister is defending a controversial gas deal that has sparked debate. Nvidia's stock is on the rise, signaling positive momentum in tech. Meanwhile, copper prices are getting a boost. In a surprising turn, Dogecoin takes a dip as Elon Musk steps back from his involvement, leaving fans and investors anxious about the future.
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ASX Market Gains Led by Energy, Tech
- The ASX share market closed slightly higher after swings during the day.
- Energy and tech stocks led gains, while real estate trusts lagged.
PM Defends Controversial Gas Extension
- The PM defended Woodside's 45-year gas project extension with strict conditions.
- The decision balances resource benefits with climate and Indigenous concerns.
NVIDIA AI Growth Defies China Fears
- NVIDIA announced a 70% revenue jump driven by AI demand, easing fears of a China slowdown.
- AI computing market growth is expected to be exponential, reflecting surging investor confidence.